Seagate Tech. v. Commissioner

JUDGE WELLS

Pursuant to the stipulation of the parties in this case, and incorporating herein the facts stipulated by the parties as the findings of the Court, it is

ORDERED AND DECIDED: That there is a deficiency in income tax for the taxable year ended June 30, 1991, in the amount of $ 3,298,009.00 and an overpayment in income tax for the taxable year ended June 30, 1991, in the amount of $ 2,444,865.23, which was paid on June 21, 1996, prior to the mailing of the notice of deficiency and for which amount a claim for refund could have been filed, under the provisions of I.R.C. § 6511(c), on June 27, 1997, the date of the mailing of the notice of deficiency, and that there is no addition to tax due from the petitioners pursuant to I.R.C. § 6662 for the taxable year ended June 30, 1991; and

That there is an overpayment in income tax for the taxable year ended June 30, 1992, in the*65 amount of $ 3,772,416.00, all of which was paid on June 21, 1996, prior to the mailing of the notice of deficiency and for which amount a claim for refund could have been filed under the provisions of I.R.C. § 6511(c), on June 27, 1997, the date of the mailing of the notice of deficiency, and, that there is no addition to tax due from the petitioners pursuant to I.R.C. § 6662 for the taxable year ended June 30, 1992; and

That there is an overpayment in income tax for the taxable year ended July 2, 1993, in the amount of $ 4,376,024.00, which amount was paid on June 21, 1996, prior to the mailing of the notice of deficiency and for which amount a claim for refund could have been filed, under the provisions of I.R.C. § 6511(c), on June 27, 1997, the date of the mailing of the notice of deficiency, and, that there is no addition to tax due from the petitioners pursuant to I.R.C. § 6662 for the taxable year ended July 2, 1993.

Thomas B. Wells

Judge.

Entered: SEP 2 1999

It is hereby stipulated that the Court may enter the foregoing decision in this case in accordance with the stipulation*66 of the parties submitted herewith.

It is further stipulated that interest will be credited or paid as provided by law on any overpayment in tax due to petitioners.

It is further stipulated that the deficiency determined in the foregoing decision does not take into account unassessed payments of tax, and that the deficiency and overpayments determined in the foregoing decision do not take into account any payments of interest, or interest due to the petitioners, including overpayment interest and overpaid deficiency interest.

STUART L. BROWN

Chief Counsel

Internal Revenue Service

Date: August 31, 1999

Date: August 30, 1999

SEAGATE TECHNOLOGY, INC. AND CONSOLIDATED SUBSIDIARIES, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

Docket No. 19447-97

JUDGE WELLS

1991

It is hereby stipulated that the following statement shows the petitioners' income tax liability for the taxable year ended June 30, 1991:

*67 Less Refunds or Credits: 0.00

It is further stipulated that the 1991 deficiency determined above does not take into account unassessed payments of tax, and that the deficiency and overpayment determined above do not take into account any payments of interest, or interest due to petitioners including overpayment interest and overpaid deficiency interest.

It is further stipulated that for 1991 the petitioners remitted to the respondent payments of tax and interest on the following dates in the following aggregate amounts (which amounts include the 1991 payments described above):

*68 It is further stipulated that no refunds and/or allowances of 1991 tax and interest were made to petitioners.

1992

It is hereby stipulated that the following statement shows the petitioners' income tax liability for the taxable year June 30, 1992:

*69 It is further stipulated that the overpayment determined above does not take into account any payments of interest, or interest due to petitioners including overpayment interest and overpaid deficiency interest.

It is further stipulated that for 1992 the petitioners remitted to the respondent payments of tax and interest on the following dates in the following aggregate amounts (which amounts include the 1992 payments described above):

It is further stipulated that aggregate refunds and/or allowances of 1992 tax and interest were made to petitioners in the following amount and that such amount is inclusive and not in addition to the 1992 refunds and credits described above:

1993

It is hereby stipulated that the following statement shows the petitioners' income tax liability for the taxable year July 2, 1993:

*70 It is further stipulated that the overpayment determined above does not take into account any payments of interest, or interest due to petitioners including overpayment interest and overpaid deficiency interest.

It is further stipulated that for 1993 the petitioners remitted to the respondent payments of tax and interest on the following dates in the following aggregate amounts (which amounts include the 1993 payments described above):

It is further stipulated that aggregate refunds and/or allowances of 1993 tax and interest were made to the petitioners in the following amount and that such amount is inclusive and not in addition to the 1993 refunds and credits described above:

STUART L. BROWN

Chief Counsel

Internal Revenue Service

Date: August 31, 1999

Date: August 30, 1999

I hereby certify that on August 31, 1999, I caused the foregoing Decision and Stipulation to be served on the other parties to this*71 action by sending such copies to opposing counsel via United States Mail, postage prepaid, at the following address:

Jeffrey A. Hatfield, Esq.

Internal Revenue Service

Southern California District Counsel

24000 Avila Road, Suite 4404

Laguna Niguel, California 92677-0215

Neville S. Hedley